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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Cash Flows from Operating Activities    
Net income $ 164.8 $ 171.7
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 77.6 73.7
Deferred income taxes (0.5) (4.4)
Stock-based compensation 15.9 8.3
Provision for bad debt expense 6.8 (0.3)
Multi-employer pension charge 0.0 22.9
Changes in assets and liabilities, excluding effects of acquisitions:    
Decrease (increase) in accounts receivable, net 25.0 (59.0)
Decrease (increase) in inventories, net 24.5 (10.1)
Increase in accounts payable 13.1 39.0
Decrease in current liabilities (45.7) (36.1)
Changes in other assets and liabilities, net 17.8 5.9
Contribution to qualified defined benefit pension plans (1.4) (0.2)
Other, net 5.8 (1.8)
Net cash provided by operating activities 303.7 209.6
Cash Flows from Investing Activities    
Capital expenditures (35.0) (47.7)
Acquisition of businesses, net of cash acquired (2.0) 0.0
Purchases of available-for-sale investments (4.7) (4.5)
Proceeds from available-for-sale investments 11.1 7.1
Other, net 3.7 3.6
Net cash used in investing activities (26.9) (41.5)
Cash Flows from Financing Activities    
Long-term debt borrowings 225.0 0.0
Long-term debt repayments (115.6) (12.5)
Short-term debt borrowings (repayments), net 73.5 (5.0)
Payment of dividends to shareholders (98.9) (91.5)
Payment of dividends to noncontrolling interest (1.6) (2.6)
Repurchase of common stock (41.3) (30.0)
Other, net (6.5) (6.6)
Net cash (used) provided by financing activities 34.6 (148.2)
Effect of exchange rate changes on cash and cash equivalents (8.4) 1.0
Increase in cash and cash equivalents 303.0 20.9
Cash and cash equivalents    
Beginning of period 182.0 189.0
End of period $ 485.0 $ 209.9